Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,382
- Aug 10, 2018 8:43pm Aug 10, 2018 8:43pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Study these 3 charts below and learn,
Look at the most recent previous price action PPA ... aka look left.
For these pairs, it weekend time and you do your top down analysis and look at the big picture. Think of next week's trading. Look for trade opportunities.
It took me just 2 mins looking at my MN and W1 charts,
USDJPY - potential breakout.
AUDJPY - already broke this week, next week we face weekly support.
EURJPY - strong reversal and 2 weeks follow through. Next week will see more downside but euro fights backs.
Look at the most recent previous price action PPA ... aka look left.
For these pairs, it weekend time and you do your top down analysis and look at the big picture. Think of next week's trading. Look for trade opportunities.
It took me just 2 mins looking at my MN and W1 charts,
USDJPY - potential breakout.
AUDJPY - already broke this week, next week we face weekly support.
EURJPY - strong reversal and 2 weeks follow through. Next week will see more downside but euro fights backs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,384
- Aug 11, 2018 2:24am Aug 11, 2018 2:24am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
You want positive result's?
You want to bank pips?
Concentrate on what BigE has posted.
Key guys BigE referring to was member's that posted atively with BigE
You want to bank pips?
Concentrate on what BigE has posted.
Key guys BigE referring to was member's that posted atively with BigE
- #89,385
- Aug 11, 2018 4:42am Aug 11, 2018 4:42am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,386
- Aug 11, 2018 5:09am Aug 11, 2018 5:09am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
If your willing to monitor a 4hr chart... you will see how when green crosses red it arcs or wiggles above or below red (see white boxes on the chart). You can stay the trade until it crosses red and pull down 200-400 pips on the longer runs... {image}
The question many would ask is, when do we follow the rule in Post#6 and when do we break that rule?
Entries and exits... We Enter a trade when green crosses red on the TDI at the beginning of that candle... If it's candle 3 or more don't enter... find another trade set up. The only exception is if green bounces off red and continues... it's ok to re-enter on the bounce... Exit your trade when the green TDI line goes flat, starts to hook over or makes a check mark reversal. If you add other things it will influence your decisions... usually to your detrament. Don't try to complicate it thinking it can't be this easy. Important...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,387
- Aug 11, 2018 5:38am Aug 11, 2018 5:38am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
Does a person read a manual on human atomanie he can remove a brain tumor or a manual to fly a plane he can pilot a Boeing 747?
Life expectancy in the case will be very short.
-------------
Reading a post and understand a post is a total different ball game.
Looking at what some member's post, you have to ask yourself: What is wrong with you.
In many case it show clearly they did not read any post's nor do they understand even the most basic english words in that post.
One example will be enough
#119.................. Only red and green lines (double thickness) and remove the others...
What get posted:
You can read as much as you want, you don't understand what is written nor how to apply that to a chart you will lose ALL your money.
Life expectancy in the case will be very short.-------------
Reading a post and understand a post is a total different ball game.
Looking at what some member's post, you have to ask yourself: What is wrong with you.
In many case it show clearly they did not read any post's nor do they understand even the most basic english words in that post.
One example will be enough
#119.................. Only red and green lines (double thickness) and remove the others...
What get posted:
You can read as much as you want, you don't understand what is written nor how to apply that to a chart you will lose ALL your money.
- #89,388
- Aug 11, 2018 5:50am Aug 11, 2018 5:50am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
So many new traders... Do not think you can trade with us without reading the thread and taking notes. READ & STUDY. Snarlyjack - Good to hear from you old friend. We have stood back to back in battle more than a few times. May your trades be blessed buddy. Come visit more often. Big E
The OP's last post was Oct 25, 2011.
back to school learn to read first, then digest what you learn from reading and put into deep practice what you learn in live market trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,389
- Aug 11, 2018 5:58am Aug 11, 2018 5:58am
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Klops... (503) I'm not looking for 15 pips profit... more like 150 ! The money I put into my last trading account ($10,000) I don't even think about it. It's like the money you take to Las Vegas. You hope to win but don't often... Your taking money for entertainment and relaxation... So I don't give it a second thought... It's entertainment money as I said... Besides It always grows larger... I REMEMBER THE DAYS WRINGING OUT MY HANDS FOR MY $500 ACCOUNT... THE SKIES FALLING ! Help, help, help. If I enter a trade lets say and I'm monitoring the trade...
After lots of reading, I run some test using my strategy tester.
Use the same $10,000 and trade 3 standard lots.
Entry is when the HA candle close above or below the 5EMA and TDI confirms. No Stochastics used in this testing.
Exit using Breakeven after 25 pips and then manage with Jumping Stop Loss 50pips.
TP was set at 100pips and with re-entry.
Below is the result for EURUSD H4 Jan 01 to Aug 10 2018.
My observation is that the losses were during period when the market volatility is low and the narrow range.
Will run GBPUSD now and post later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,390
- Aug 11, 2018 9:59am Aug 11, 2018 9:59am
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
- #89,391
- Aug 11, 2018 10:11am Aug 11, 2018 10:11am
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
- #89,392
- Edited 12:42pm Aug 11, 2018 12:12pm | Edited 12:42pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Those wanting more examples go to Forum: Commercial, then Craig Harris Stochastics Method... then start reading on page 246, post 3676 to the end... you will learn more fast... We switched from there to only discuss this method in the new forum...
What about this old post? The OP said if you want to see more examples, you go to his old thread.
And don't tell me that his old thread did not discuss the 5-Method which is Trading Made Simple here.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,393
- Aug 11, 2018 12:18pm Aug 11, 2018 12:18pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} After lots of reading, I run some test using my strategy tester. Use the same $10,000 and trade 3 standard lots. Entry is when the HA candle close above or below the 5EMA and TDI confirms. No Stochastics used in this testing. Exit using Breakeven after 25 pips and then manage with Jumping Stop Loss 50pips. TP was set at 100pips and with re-entry. Below is the result for EURUSD H4 Jan 01 to Aug 10 2018. My observation is that the losses were during period when the market volatility is low and the narrow range. {image} Will run GBPUSD now...
Use the same $10,000 and trade 3 standard lots.
Entry is when the HA candle close above or below the 5EMA and TDI confirms. No Stochastics used in this testing.
Exit using Breakeven after 25 pips and then manage with Jumping Stop Loss 50pips. TP was set at 100pips and with re-entry.
Same observation, many losses when the market is narrow range.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,394
- Aug 11, 2018 1:13pm Aug 11, 2018 1:13pm
- | Joined Nov 2016 | Status: Trader | 1,096 Posts
'in less than half an hour he made over 100 ticks'
- #89,395
- Aug 11, 2018 2:56pm Aug 11, 2018 2:56pm
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
Does a person read a manual on human atomanie he can remove a brain tumor or a manual to fly a plane he can pilot a Boeing 747?
- #89,397
- Aug 11, 2018 4:15pm Aug 11, 2018 4:15pm
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #89,398
- Aug 11, 2018 6:13pm Aug 11, 2018 6:13pm
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
- #89,399
- Aug 11, 2018 8:03pm Aug 11, 2018 8:03pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
Keep It Simple:
which ever timeframe I chose to trade, I always follow Dr Alexander Elder's Tripe Screen System technique.
when trading M15, I look at H1 and H4.
- H4 is your Primary or Dominant Trend or Post#647 'long term trend
- H1 is your setup or your signal on Intermediate Trend or Post#647 'short term trend'.
- M15 is your entry timeframe
Checking three different timeframes charts is a way how we reconcile the TIMING of our trade entry on the lower timeframe where we make our market entry.
We look at the price action and the TDI condition of all three timeframes to confirm the setup is high probability in the direction of the Primary (Dominant) Trend.
Triple Screen Trading System by Dr Alexander Elder Post#23,973, Post#55200, Post#62,175
Triple Screen trading systems : Post#55,203
which ever timeframe I chose to trade, I always follow Dr Alexander Elder's Tripe Screen System technique.
when trading M15, I look at H1 and H4.
- H4 is your Primary or Dominant Trend or Post#647 'long term trend
- H1 is your setup or your signal on Intermediate Trend or Post#647 'short term trend'.
- M15 is your entry timeframe
Checking three different timeframes charts is a way how we reconcile the TIMING of our trade entry on the lower timeframe where we make our market entry.
We look at the price action and the TDI condition of all three timeframes to confirm the setup is high probability in the direction of the Primary (Dominant) Trend.
Triple Screen Trading System by Dr Alexander Elder Post#23,973, Post#55200, Post#62,175
Triple Screen trading systems : Post#55,203
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #89,400
- Aug 11, 2018 8:14pm Aug 11, 2018 8:14pm
- Joined Nov 2008 | Status: Trader | 50,196 Posts
{quote} Hi Emm, I have a couple of questions: Did you use an initial SL, and if so, how wide? Also did you take Partial profits or exit with the 3 lots all at once? Nice, AG
In these tests, I used a fixed lot size 3 standard lots. Big E used 2 to 4 standard lots with his $10k account.
Did not use initial Stop Loss for Position Sizing.
As the strategy tester is monitoring (like Big E used to) the trades, it will exit when there is a 'reversal candle'immediately after the entry or when there is a pull back in the price.
Did not use scaling out. Only Single Entry / Single Exit.
Below is another test completed. This time I use the Trail by Previous Candle High/Low after Breakeven (same set to 25pips)
Result is sightly different from the first test. This is my favourite exit strategy management for SE/SE trades and it can be done using THV CaveManager as trade manager.
You can look at the previous post and compare the results.
https://www.forexfactory.com/showthr...2#post11358032
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett